Intangible drilling cost deductions, which are also in the frame, are peanuts by comparison.
With drilling being the determinate cost, new techs like multi-pad drilling and ultra-mobile drill rigs attract a lot of attention.
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With improvements in hydraulic fracturing and horizontal drilling, this cost gap may actually grow in the coming years, rather than decline as renewables advocates often assume.
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What President Obama and the EPA are missing are the new, more effective drilling techniques that have led to the more cost-efficient drilling and safer production procedures.
No matter who is drilling these wells they cost a couple of hundred million to drill those down 30, 000 feet.
Tax credits significantly cut the cost of drilling the four wells, each 500 feet deep one instance where more is definitely more.
Offshore drilling to reduce the cost of gas and spur truck sales.
Whether or not the administration puts a temporary stop to deep-water drilling, we can only imagine what effect the added cost of higher premiums for drilling rig insurance and more sophisticated safety equipment is going to be in the months and years ahead.
Mitchell figures that new drilling techniques will lower the cost of getting the gas out of the ground.
New regulations and drilling restrictions will raise the cost of offshore production which will drive up the cost of oil.
The federal government has already ruled repeatedly that opening new onshore areas, such as the Alaska National Wildlife Refuge, to drilling would exact too great an environmental cost.
The President, while understanding of the economic cost of pausing those ongoing drilling -- ongoing drilling permits -- while understanding of that, believes that we ought to have a sense of what happened and ensure that the regulatory structure that we have in place going forward ensures their protection.
The president ordered the Interior Dept. in March 2011 to identify unused acreage on federal lands (it amounts to about 72% of offshore leases and 56% of all federal land in the Lower 48, according to this report) and followed up with policy changes that shortened lease terms and increased the annual holding cost to prod companies into drilling.
Drilling for these reserves has been restrained by cost, location and overlapping sovereignty.
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Last year, the rental cost of a jack-up drilling rig went up 66%.
Because of the great difficulty and cost associated with this type of drilling, it is very susceptible to changes in oil company budgets and the price of oil.
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Drilling proponents accept that the occasional spill is the cost of extracting oil.
The cost of extra safety investment may slow Arctic drilling for a while, especially as we are in a glut of cheap shale gas.
Government officials have also said the company will bear the cost of the army of rescue workers and drilling teams being flown in from around the world.
In a 20-minute excerpt from hours of examination carried out in 2011, Mr Hayward insisted that cost-cutting at BP had not affected its drilling operations.
Suspending disbelief for the moment and assuming new drilling would be allowed, joining this treaty would be far from cost-free, either for the oil industry or for the American consumer.
But he adds dentists have been slow to adopt lasers in part because of the cost and in part because older models were much slower than drilling.
These include disciplined project management skills that will allow a company to process a resource play as efficiently as if it were an assembly line, repetitively drilling and fracking and completing wells one after another with a rabid eye on cost control.
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Even if the cost cuts work and Big Oil finally agrees to support the group, environmentalists are squarely against the drilling aspect of the plan.
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